Equitas Small Finance Bank Ltd Q3 FY2024 net profit increases to Rs. 202 crores

Equitas Small Finance Bank Limited has reported Standalone financial results for the period ended December 31, 2023.

Financial Results (Q3 FY2024) - QoQ Comparison

The company has reported total income of Rs. 1634.2720 crores during the period ended December 31, 2023 as compared to Rs. 1540.3672 crores during the period ended September 30, 2023.

The company has posted net profit / (loss) of Rs. 202.0008 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs. 198.1382 crores for the period ended September 30, 2023.

The company has reported EPS of Rs. 1.77 for the period ended December 31, 2023 as compared to Rs. 1.74 for the period ended September 30, 2023.

Financials	Q3 FY2024	Q2 FY2024	% Change
Total Income	₹ 1634.2720 crs	₹1540.3672 crs	6.10%
Net Profit	₹202.0008 crs	₹198.1382 crs	1.95%
EPS	₹1.77	₹1.74	1.72%

Financial Results (Q3 FY2024) - YoY Comparison

The company has reported total income of Rs. 1634.2720 crores during the period ended December 31, 2023 as compared to Rs.1216.0319 crores during the period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.202.0008 crores for the period ended December 31, 2023 as against net profit / (loss) of Rs.170.1263 crores for the period ended December 31, 2022.

The company has reported EPS of Rs.1.77 for the period ended December 31, 2023 as compared to Rs.1.34 for the period ended December 31, 2022.

Financials	Q3 FY2024	Q3 FY2023	% Change
Total Income	₹ 1634.2720 crs	₹1216.0319 crs	34.39%
Net Profit	₹202.0008 crs	₹170.1263 crs	18.74%
EPS	₹1.77	₹1.34	32.09%

Financial Results (9 Months Ended FY2024) - YoY Comparison

The company has reported total income of Rs.4599.9659 crores during the 9 Months period ended December 31, 2023 as compared to Rs.3437.0450 crores during the 9 Months period ended December 31, 2022.

The company has posted net profit / (loss) of Rs.591.3394 crores for the 9 Months period ended December 31, 2023 as against net profit / (loss) of Rs.383.5528 crores for the 9 Months period ended December 31, 2022.

The company has reported EPS of Rs.5.20 for the 9 Months period ended December 31, 2023 as compared to Rs.3.04 for the 9 Months period ended December 31, 2022.

Financials	9 Months Ended FY2024	9 Months Ended FY2023	% Change
Total Income	₹4599.9659 crs	₹3437.0450 crs	33.83%
Net Profit	₹591.3394 crs	₹383.5528 crs	54.17%
EPS	₹5.20	₹3.04	71.05%

Asset Quality:

Asset Quality	Q3 FY2024	Q2 FY2024	Q3 FY2023
Gross NPA	₹750.2564 crs	₹660.4966 crs	₹861.3614 crs
Gross NPA %	2.53%	2.27%	3.63%
Net NPA	₹330.3362 crs	₹279.2889 crs	₹423.4394 crs
Net NPA %	1.13%	0.97%	1.82%

Gross NPA was at ₹ 750.2564 crs in Q3 FY2024 against ₹ 861.3614 crs in Q3 FY2023. The same was at ₹ 660.4966 crs in Q2 FY2024.

Net NPA was at ₹ 330.3362 crs in Q3 FY2024 against ₹ 423.4394 crs in Q3 FY2023. The same was at ₹ 279.2889 crs in Q2 FY2024.

GNPA was at 2.53% of Gross advances as on December 31, 2023 as compared to 3.63% as on December 31, 2022 and 2.27% as of September 30, 2023.

Net NPA was at 1.13% of Gross advances as on December 31, 2023 as compared to 1.82% as on December 31, 2022 and 0.97% as of September 30, 2023.

Ratios	Q3 FY2024	Q2 FY2024	Q3 FY2023
RoA %	0.48%	0.49%	0.53%
CAR (BASEL III) %	20.24%	21.33%	24.28%

Return on Average Assets (RoA) is at 0.48% for Q3 FY2024 against 0.49% in Q2 FY2024 and 0.53% in Q3 FY2023.

In Q3 FY2024, Bank's total Capital Adequacy Ratio (CAR) was at 20.24%, as compared to 21.33% in Q2 FY2024 and 24.28% in Q3 FY2023.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 106.10 as compared to the previous close of Rs. 108.25. The total number of shares traded during the day was 343291 in over 4159 trades.

The stock hit an intraday high of Rs. 108.25 and intraday low of 103.70. The net turnover during the day was Rs. 36501504.00.

Source : Equity Bulls

Keywords

EquitasSmallFinanceBank Q3FY24 9MFY24 ResultUpdate